Alabama special session passes ACUA request

At the conclusion of the Alabama Legislature’s special session on Tuesday, there was no solution to the shortfall in the state’s General Fund Budget. However, a request by the ACUA was passed. Monday evening the Senate passed a budget that was identical to the one Gov. Robert Bentley vetoed in June. That budget was sent […]

At the conclusion of the Alabama Legislature’s special session on Tuesday, there was no solution to the shortfall in the state’s General Fund Budget. However, a request by the ACUA was passed.

Monday evening the Senate passed a budget that was identical to the one Gov. Robert Bentley vetoed in June. That budget was sent to the House for concurrence. Because the budget was drastically different than the one the House previously sent to the Senate, it resulted in a 2-92 vote. The House did not vote to concur which resulted in the General Fund Budget and the special session to die right then.

Raising revenue is not an easy task to accomplish in Alabama nor is making the cuts to services that a large number of Alabamians receive. The legislature will be back for another special session, more than likely after Labor Day. This will provide another opportunity to pass the General Fund Budget before the end of the fiscal year.

Despite the General Fund Budget not passing, some accountability measures made it through both chambers. These measures predominately deal with tax fraud and are expected to bring in between $40-$50 million per year without raising taxes. Additionally, the League reported earlier that the Alabama Credit Union Administration was seeking additional spending authority to finish this fiscal year. That authority was passed by the legislature Tuesday afternoon and is currently waiting to be signed by Gov. Bentley.

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The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

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